OLA success story: Idea,origin,journey and evolution
HOW OLA CAB STARTUP WAS STARTED
OLA is ridesharing company when it was started now it includes taxi service and food delivery. Ola was founded in 2010 at that time it work as an online cab aggregator in mumbai and now it based in bengaluru, karnataka, INDIA.The idea behind starting OLA cab startup is of BHAVISH AGGARWAL when he stranded in the mid of bangalore to bandipur road.bhavish's cab driver stopped the car in the mid of the journey and demanded the renegotiation. Afterthat he started ola cabs with his co-founder ANKIT BHATI.OLA fills the gap between the cab owners and commuters with adding tecnology into his startup.
OLA was developed by ANI technologies pvt. ltd based in bengaluru.As of 2019 ola was valued at more than $10 billion.Ola has expanded to a network of more than 16 lakh cab drivers across 300 cities.OLA's first overseas market is australia and newzealand in 2018.in 2019 it also begins its U.k operations.The large stake of ola was funded by softbank.In 2015 ola acquired bengaluru based taxi service TAXI FOR SURE. After aquiring taxi for sure OLA trying to expand beyond cab aggregation. in this move OLA acquired struggling food startup FOODPANDA in 2017.OLA provides various services at different levels from economic to luxury.
India's biggest taxi hailing startup looks like a dream of aspiring entrepreneur.In 2018 ola made its 3rd acquisiton with RIDIR a online ticketing app.OLA also started his payment app OLA money.ola accepts various types of payment such as cash,mobile wallet app,online cards and ola money. present, OLA get more than 2lakh cutomers daily.ola captured more than 60% of the taxi hailing market. the biggest competitor of ola is UBER.
OLA also starts its electric vehicle business with different unit called OLA electric mobility.ola electric funded by tiger global and matrix india. SIR RATAN TATA also had invested undisclosed amount in OLA electric.The Co-founder of OLA ELECTRIC is ANAND SHAH.OLA electric also provides electric batteries charging solutions.
OLA consider the following factors to create the final bill
1. Base fare
2. Distance fare- kilometerwise
3. Ride time share- time taken to travel
4. peak pricing, taxes and toll charges.
OLA is one of the biggest startup in indian startup industry.In 2019 OLA one more startup acquired that is PIKUP.AI amount is undisclosed.In present time OLA is only one indian biggest taxi hailing startup which can competite with multinational taxi hailing giant UBER.
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